Anson Resources Ramps Up Lithium Exploration at Flagship Green River Project

About Anson Resources

Anson Resources Ltd (ASX: ASN) is an Australia-based junior mineral resources company focused on developing its flagship Paradox Lithium Project in Utah, USA into a major lithium producer. The company's goal is to create long-term shareholder value through the discovery, acquisition and development of lithium and other resources that will meet the growing demand from the new energy economy.

Anson's Green River Lithium Project consists of over 10,000 hectares of placer mining claims in the renowned Paradox Basin, which hosts well-known deposits of potash, bromine and lithium-bearing brines. The project area has seen significant historical oil and gas exploration and Anson is leveraging this existing data to fast-track its exploration efforts in the basin.

Latest Exploration Plans

Aim to Increase Lithium ResourcesAnson recently announced plans for an upcoming drilling program at its Green River Lithium Project focused on increasing the project's lithium resources.

The company will be drilling at three priority targets within newly acquired claims at Green River. Anson has already submitted the required permitting applications and environmental surveys for the drilling and expects to commence once approvals are received.

This new drilling campaign represents the second phase of Anson's systematic exploration approach to defining a maiden JORC mineral resource estimate at the project. It will build on data from the company's proposed re-entry and sampling of historical oil and gas wells in the project area.

Promising Geology drives Target Selection

The targets for the latest drilling program were selected based on positive geological characteristics that point to the potential for lithium-rich brines.

The Paradox Basin has a long history of oil and gas production. However, the structures that trapped the hydrocarbons have also created pathways for mineral-rich brines to accumulate at depth.

Anson's technical team has identified zones of high porosity related to these geological structures. Surface seeps of brines in the target areas provide further evidence of enhanced permeability in the underlying units.

The company will be drilling deep exploratory wells up to 10,800 feet depth to sample two key brine-hosting formations - the Clastic Zones and the older Mississippian units. Although brines have been encountered here before, they were never assayed for lithium. Anson's drilling aims to analyze these brines and define lithium resources.

Permitting Paves Way for Near-term Drilling

Anson has already submitted key permitting applications required to commence drilling at Green River.

The company filed Notices of Intent with the Utah Division of Oil, Gas and Mining for the three identified drill sites. It also submitted an Application to Drill to account for the deeper target depths.

With flat topography and sparse vegetation, the drill sites will require minimal preparation and disturbance prior to drilling. Anson aims to start its maiden drilling campaign soon after securing the final approvals.

Methodical Approach to Defining Maiden Resource

This upcoming drill program represents a significant de-risking step in Anson's pathway to defining a maiden mineral resource estimate at Green River.

The company is taking a systematic approach by leveraging existing data where possible to minimize exploration risk. The re-entry and sampling of historic oil and gas wells will provide the first tranche of data for the resource estimate.

The new drilling will build on this initial dataset by testing deeper formations and across a wider area. With multiple data points, Anson's geologists can better understand the lithium distribution and geology.

By combining these datasets, the company aims to establish sufficient data density for a high confidence maiden JORC lithium resource. This resource would form the basis for scoping and feasibility studies to advance the project.

Lithium Demand Outlook Remains Strong

Anson's accelerated lithium exploration comes as demand projections for the metal remain robust. Lithium is a key component in EV batteries and battery storage technologies for renewable energy.

As the electrification of transport gathers speed, lithium-ion batteries are expected to see dramatic growth over the next decade. Major auto manufacturers have committed to phase out internal combustion engine vehicles. EV sales are rising sharply, especially in China which dominates the global EV market.

BloombergNEF forecasts lithium demand to grow over 5 times by 2030. This unprecedented demand trajectory continues to fuel lithium prices and incentives for new production like Anson's Green River Project.

Next Steps for Anson Resources

With permitting applications lodged, Anson appears on track to commence its maiden drilling program at Green River in coming months. The results will move the company closer to defining a maiden lithium resource to underpin project development studies.

In addition to the flagship Green River Lithium Project, Anson also holds prospective lithium brine claims in Arizona's Buenavista Valley. The company continues to review strategic lithium acquisition opportunities to grow its project portfolio.

With lithium demand outlook remaining strong, Anson's accelerated exploration and pathway to potential production places it in a promising position. Investors are encouraged to continue monitoring announcements as the company progresses drilling and project development activities at Green River.

Conclusion

Anson Resources is focused on systematically advancing its flagship Green River Lithium Project towards maiden resource estimation and potential project development. The company's latest drilling campaign signals an exciting next step in unlocking the lithium potential of the prolific Paradox Basin.

With permitting largely in place, Anson appears poised to ramp up exploration activity at Green River in the near-term. Positive results from the upcoming drilling could provide a significant catalyst for the stock as Anson works to define an initial lithium resource and realization of the project's commercial potential.

Backed by rising lithium demand forecasts, the company's strategy of leveraging existing data sets to fast-track exploration while minimizing risk continues to be well founded. Investors are encouraged to continue monitoring upcoming announcements as Anson progresses towards its goal of becoming a major new lithium supplier from the heart of the United States' lithium-rich Paradox Basin.